Imagine a world where your insurance experience is not marred by delays and complexities but is streamlined and optimized thanks to cutting-edge technologies like artificial intelligence and machine learning. This could soon become a reality due to the newly announced strategic partnership between Sun Life Global Solutions (SLGS) and the Indian Institute of Technology (IIT) Indore. The collaboration between these
In a significant move that could reshape the landscape of annuity and life insurance distribution, Luma Financial Technologies has partnered with Advantage Insurance Network (AIN) to integrate cutting-edge technology into the annuity and life insurance management processes. By incorporating Luma’s advanced structured products and insurance solutions into AIN’s proprietary AIN Essentials platform, this partnership promises to revolutionize how AIN Affiliates
Berkshire Hathaway Specialty Insurance (BHSI), a premier provider of insurance solutions in executive and professional lines, has recently announced significant leadership changes in its UK operations, signaling a strategic shift likely to influence the financial lines market. The new appointments see Andrew Hopper becoming the head of financial institutions, UK, and Chris Nixon being promoted to underwriting manager, executive &
Africa Specialty Risks (ASR), a major (re)insurance group with a focus on the African and Middle Eastern markets, has officially launched its operations in Dubai with the institutional backing of Lloyd’s. With this strategic move, ASR aims to bridge the insurance gap in underserved regions while reinforcing its commitment to providing tailored risk solutions. Operating as a Lloyd’s service company
Artificial intelligence (AI) is revolutionizing various sectors across the globe, but its impact on the life insurance industry, specifically in underwriting processes, marks a drastic transformation that few anticipated. By integrating AI, life insurers can achieve higher levels of speed, accuracy, and personalization in risk assessment, ultimately transforming policy customization and customer experience. This new era is reshaping how life
The recent arrest of a former Nomura Holdings employee accused of robbery, arson, and attempted murder has sent shockwaves through the financial institution, prompting immediate and substantial actions from the company’s highest echelons. In light of these serious allegations, Nomura Holdings’ CEO Kentaro Okuda, along with other top executives, has decided to take a voluntary pay cut to acknowledge the
The issue of privacy in the workplace has resurfaced as a contentious topic, especially in light of recent allegations against tech giant Apple. Employee Amar Bhakta has filed a lawsuit claiming that Apple engages in invasive surveillance practices that infringe on both personal and company-managed devices, raising serious questions about privacy rights. Bhakta contends that Apple collects data such as
In an impressive move to support travelers across Southeast Asia, Cover Genius has partnered with Airpaz to offer comprehensive travel insurance in countries like Malaysia, Vietnam, Indonesia, Thailand, and the Philippines. This collaboration is designed to ensure that travelers can enjoy a sense of security and peace of mind even during the busiest travel periods. Whether it’s dealing with unexpected
Insly has introduced a groundbreaking AI-powered product named FormFlow to revolutionize the data submission process between Managing General Agents (MGAs), insurers, and their broker partners. As a leading low-code software provider within the insurance sector, Insly developed FormFlow in response to the industry’s demand for a more streamlined, efficient, and reliable data submission process. The current system often involves brokers
In a bold move that positions Zurich Insurance Group as a global leader in travel insurance, the company has acquired AIG’s global personal travel insurance and assistance business for USD 600 million. This landmark deal also includes a potential earn-out payment and emphasizes Zurich’s strategic intent to expand its travel insurance capabilities. Acquiring AIG’s well-established Travel Guard brand alongside its
In a significant turn of events, Ohio State University has made the decision to roll back salary increases for 306 of its employees. This action comes in the wake of a Texas federal judge overturning the U.S. Department of Labor’s expanded overtime rule. Initially, this rule had raised the overtime eligibility threshold to $43,888 as of July 1, 2024, and
The U.S. Department of Labor (DOL) has proposed a rule aimed at phasing out the issuance of subminimum wage certificates for workers with disabilities over a three-year period, which would put an end to Section 14(c) subminimum wage practices. Under the current Fair Labor Standards Act, employers can pay wages below the minimum rate to workers whose disabilities affect their
